Critical minerals processing scheme at advanced stage, says Mines Secy

New Delhi: A key government scheme for processing of critical minerals is at an advanced stage of finalisation, Mines Secretary Piyush Goyal said on Friday, as India races to secure its supply chain amid global competition for lithium and other vital resources needed for clean energy and defence technologies.

Speaking to reporters here, Goyal said India is unable to import lithium available abroad due to the absence of a domestic processing value chain.

“The scheme for processing of critical mineral value chain is at an advanced stage,” he said.

This is expected to significantly enhance the resilience of EV batteries in the country.

Details of the same will be shared once it is approved, Goyal said.

He further said India is eyeing critical mineral blocks in Canada and is exploring opportunities for investment in lithium projects in Brazil, Argentina, and Australia. He also said production from five blocks of lithium in Argentina is likely to start in 2029.

The secretary also said Coal India, NTPC Mining, along with Hindustan Copper, are in talks with Codelco for acquisition of four blocks in Chile.

He also exudes confidence that India will be a net exporter of copper from next year.

Globally, critical minerals include lithium, cobalt, rare earth elements, nickel, graphite, and several others whose supply is vulnerable to geopolitical or trade disruptions.

India is heavily dependent on imports for key minerals such as lithium and cobalt.

The government had last year approved a Rs 16,300-crore National Critical Mineral Mission, envisaging a total outlay of Rs 34,300 crore spread over seven years, with an aim to achieve self-reliance and accelerate India’s journey towards green energy transition.